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South Korea's carbon market a model for the rest of Asia

Without effective policies, global climate targets will slip further out of reach

| China
Steam rises from a coal-fired power plant in Hangzhou in July 2021: demand for coal in Asia is proving difficult to budge.   © FeatureChina/AP

Alistair Ritchie is director of Asia-Pacific sustainability at the Asia Society Policy Institute. He leads major projects to support the development and implementation of ambitious and effective climate policies in China and across Asia.

The recent U.N. Climate Change Conference of the Parties, or COP26, accelerated action this decade to achieve deeper reductions in greenhouse gas emissions, nationally determined contributions for 2030 aligned with the Paris Agreement goal to limit global warming to 1.5 degrees Celsius above preindustrial levels and to phase down coal power.

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